According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that:
- because of the effect of inflationary pressures on the cost of construction and power, NuScale and Utah Associated Municipal Power Systems (“UAMPS”) would be unable to sign up enough subscribers to fulfill the Carbon Free Power Project (the “CFPP”);
- Standard Power, a provider of infrastructure as a service to advanced data processing companies, did not have the financial ability to support its agreement with NuScale; and
- as a result, defendants’ positive statements about NuScale’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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